Economic Development

In addition to a high quality of life and exceptional cultural opportunities, Champaign provides a positive environment for all types of businesses, including technology, agricultural and medical research, light industry, distribution facilities, and retail developments.

The City of Champaign promotes economic stability and growth through sound planning and development programs, including Enterprise Zone incentives, Tax Increment Finance Districts, development programs, and capital improvements planning and construction.

 

The City’s economic development activities are driven by our Economic Development Policies.  As we develop programs and consider assistance, projects should strive to achieve these visions. The overarching goal of the City’s economic development activities should be to increase the local tax base, thereby securing funding for City services and services provided by local taxing bodies. These economic development activities should be conducted in such a way as to create jobs and equitably enhance the economic prosperity of City residents.

The following vision statements guide Champaign’s economic development activities:

  • A Diverse and Resilient Economy. Build resilience in the local economy by engaging with businesses, promoting sector diversification, and supporting our workforce partners.
  • Thriving and Growing Local Businesses. Foster a thriving local business environment by empowering historically marginalized groups, supporting entrepreneurs, and encouraging employment growth.
  • A High-Quality Built Environment. Invest in transformative projects that grow our local economy, raise the quality of life, and spur additional private development.
  • A Welcoming Community. Develop community pride and inclusive prosperity by ensuring affordability, preserving history, and enhancing aesthetics throughout the City.
  • A Competitive Advantage. Strengthen local and regional partnerships, bolstering those organizations’ abilities, and support a thriving education system that attracts investment.

 

Build resilience in the local economy by engaging with businesses, promoting sector diversification, and supporting our workforce partners.

Proactive Engagement: Actively engage with prospective and existing businesses to understand their needs and challenges, offering tailored solutions and programs to encourage them to locate and grow in Champaign.

Sector Diversification: Attract and retain a diverse range of key sector companies that significantly contribute to our employment base and strengthen the local economy, prioritizing jobs that enable upward income mobility for low- to moderate-income residents.

Workforce Development: Collaborate with community partners to identify how the City can best support existing workforce programs to ensure a skilled and adaptable workforce.

Community Organizations: Partner and support existing community organizations advancing youth, skilled trades, re-entry, and retraining programs.

Foster a thriving local business environment by empowering historically marginalized groups, supporting entrepreneurs, and encouraging employment growth.

Entrepreneurial Support: Develop and fund programs providing resources, mentorship and assistance to grow small businesses.

Prosperity for All: Empower economically disadvantaged, socially disadvantaged, minority and women-owned businesses to actively participate in community growth and advancement.

Financial Assistance: Incentivize and identify investment opportunities that promote business growth and sustainability.

Invest in transformative projects that grow our local economy, raise the quality of life, and spur additional private development.

Strategic Infrastructure Investment: Prioritize investments in major capital projects that coordinate with land use planning to enhance neighborhoods, improve transportation safety and sustainability, provide greater economic opportunities, and create public gathering spaces.

Strong Commercial Districts: Incentivize economic growth and community development in key commercial areas throughout the City, repositioning them for the community’s future needs and securing the City’s long-term economic vitality.

Development Partnerships: Strategically utilize City revenues to encourage transformative projects whose benefits extend beyond the project site.

Complete Neighborhoods: Support neighborhood commercial centers, which provide residents with access to goods and services, and reduce barriers to neighborhood-scale reinvestment.

Develop community pride and inclusive prosperity by ensuring affordability, preserving history, and enhancing aesthetics throughout the City.

An Affordable Place to Call Home: Develop strategies to preserve existing housing stock and expand access to essential goods and services so Champaign is an affordable place to live and do business.

Historic Preservation: Enhance benefits to property owners that invest in the preservation and restoration of historic structures.

Community Pride: Improve our community’s visual appeal by installing environmentally and fiscally sustainable landscaping, creating beautiful open spaces, and increasing resident involvement in neighborhood-based programs.

Strengthen local and regional partnerships, bolstering partner organizations’ abilities, and support a thriving education system that attracts investment.

Efficient Processes: Streamline permit review workflows and provide high-quality customer service to facilitate business growth throughout the permitting and entitlement process.

Collaboration with Agency Partners: Collaborate with agency partners to advocate for State and Federal resources that support regional economic development goals and bring investment to our community.

World-Class University: Work hand in hand with the University of Illinois to promote the University as a world-class institution and hub of innovation, learning and economic development.

Building on our Tourism Strengths: Work with our local attractions, development community, and Experience Champaign-Urbana to enhance regional tourism drivers and explore the development of new attractions to drive new visits to the community.

The city enjoys strong partnerships with allied organizations that help extend and enhance city services and strengthen our entire region.  Those agencies include:

If you want to start a business, grow your business, or explore incentive programs, visit the City’s Business Portal.

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